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Oracle to buy Sun for $7.4bn

By admin | April 20, 2009

Database giant Oracle is to buy Sun Microsystems for more than $7 billion. The deal comes just weeks after IBM ended its acquisition talks with Sun. Oracle announced the deal this morning, saying that the deal “combines best-in-class enterprise software and mission-critical computing systems”. Oracle will pay $9.50 a share for Sun, close to $3 higher than Sun’s closing price on Friday, and valuing the deal at $7.4 billion.

Purchasing Sun gives Oracle access to Sun’s Solaris operating system, it’s high-end server hardware division as well as the open source MySQL database which Sun bought for $1 billion in January last year.